Prime Minister asks Hanoi to facilitate start-ups

Prime Minister Nguyen Xuan Phuc urged authorities of Hanoi to promote reform and take initiatives in order to further support start-up enterprises while addressing an investment promotion conference in Hanoi on June 4.

Themed “Hanoi 2016 - Cooperation, investment and development”, the conference manifests Hanoi authorities’ determination to reform as committed by the city and as instructed by the PM. It also aims to collect opinions from diplomatic missions, foreign organizations, business associations and investors for making the investment environment more friendly to startup businesses.

The PM asked leaders of the city to take strong action, focusing on improving the investment climate and removing barriers which cause the city deviate from development.

Overview of the conference themed “Hanoi 2016 - Cooperation, investment and development”

He stressed the need for Hanoi to fully tap its potential and strength, to seize and realise development opportunities.

Hanoi should be the vanguard in start-up promotion, and become a start-up and creative centre of the country, he said.

Regarding building the e-government, Hanoi ought to enhance IT application in administrative management to make it easier for enterprises and the people.

The Government encourages Hanoi to pilot international initiatives and practices in restructuring State enterprises and managing public assets, thus increasing transparency and reducing wastefulness, he stated.

The city’s authorities asserted that they are committed to bettering the investment environment and focusing on administrative reform, towards attracting resources for Hanoi’s development and realising its targets of international integration.

In his speech, Secretary of the Hanoi municipal Party Committee Hoang Trung Hai remarked on the city’s determination to reach rapid and sustainable economic growth, saying that the city will pay heed to ensuring social security, improving living conditions for the people, and protecting the environment.

The city will create the most favourable conditions for start-up enterprises, he stated.

Specific measures will be rolled out to improve the quality and competitiveness of the economy, Hai said, adding that the city will also concentrate on building and upgrading infrastructure facilities, especially those for transport, water drainage and supply, electricity and telecommunications.

According to Chairman of the municipal People’s Committee Nguyen Duc Chung, Hanoi is calling for investment in 43 projects in 2016, including 15 industrial and trade projects, and 11 for building social infrastructure.

At the meeting, representatives from associations and enterprises operating in the city proposed measures to improve the business climate and draw investment to Hanoi, how best to use official development assistance (ODA) capital, and ways to assist the city’s enterprises to access capital sources and loans.

They also gave recommendations to attract resources for developing high-tech health care and discussed the preservation of Hanoi’s cultural identity.